Escorts has fully participated in the Auto rally and has risen nearly 55 % from the lows.
Price is still in downward channel and is facing resistance at the top of channel.
Expecting price to drop down to 600 levels .
This stock is a SELL.
STOP LOSS :- 673
NOTE :-
None of my analysis should be considered a recommendation , it is purely my view on...
"ESCORTS ON THE WATCH" BULLISH TREND AHEAD
VIEW:-
:-STOCK IS STOCK IN THE RANGE OF 640-676
:-BULLISH SIGNAL IS THE GOLDEN CROSSOVER
:-GOLDEN CROSSOVER HAPPENS WHEN THE 50-DMA CROSSES OVER THE 200-DMA FROM BELOW/OPPOSITE IS CALLED DEATH CROSS
:-POWERFUL SIGNAL
TRADE VIEW
DEC FUT
BUY @650-655
STOP@639
TARGET 1@676
TARGET 2@690-95
QTY:1100
The stock is facing resistance @ 61.8% retacement of the previous swing. wait for the break of upward trend line and go short on retracements for a target of 570.
Conditional Buy: Escort
Strong Support Zone: 667-673
Minor Resistance Zone: 779-781
Strong Resistance Zone: 696-700
But if it will sustain 667-673 zone
tgram at jtradinview
Escorts Limited is an engineering company, which offers agricultural tractors and construction equipment. The Company's segments are Agri Machinery, Auto Ancillary Products, Railway Equipment, Construction Equipments and Others. It is engaged in the business of manufacturing of engines for agricultural tractors, earth moving and material handling equipment, round and flat tubes, heating elements, double acting hydraulic shock absorbers for railways coaches, center buffer couplers, automobile shock absorbers, telescopic front fork and Mcpherson struts, brake block, internal combustion engine and various types of brake used by railways. It also trades in oils and lubricants, implements, trailers, tractors, compressor accessories and spares, construction and aero business. It offers Euro Series under Powertrac; Classic Series in 41-50 HP under Farmtrac brand, and FT 6055 Xtra Torque Tractor with approximately 20 speed transmission.
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ESCORTS
![ESCORTS: [Positional] Escorts Short Idea](https://s3.tradingview.com/l/l9vh3NSV_mid.png "[Positional] Escorts Short Idea")
